The establishment of a new national stock exchange in Texas has garnered support from major investors such as BlackRock and Citadel Securities. Led by TXSE Chairman and CEO James Lee, the Dallas-headquartered group has successfully raised $120 million with the backing of over two dozen investors. The aim of the new exchange is to tap
Development
The euro strengthened slightly in anticipation of a rate decision by the European Central Bank (ECB), where a rate cut is widely expected. Meanwhile, the dollar weakened as expectations of a U.S. Federal Reserve easing cycle grew. Market participants are closely watching the ECB meeting for insights into the bank’s rate outlook, with potential quarter-point
The EUR/USD pair managed to snap a two-day losing streak and rebounded near 1.0875 in Thursday’s early Asian session. This recovery came despite the US Dollar showing strength during the same period. The focus now shifts towards the European Central Bank (ECB) interest rate decision and the subsequent Press Conference led by President Christine Lagarde
An unexpected increase in initial jobless claims has the potential to influence investor sentiments regarding a September Fed rate cut. This spike could signal weaker labor market conditions, impacting wage growth, disposable income, and consumer confidence. As a result, consumers may reduce spending, leading to a decrease in demand-driven inflationary pressures. A downturn in consumer
In a recent announcement, financial technology startup Nium revealed that it had secured $50 million in new funding from investors. Despite this significant achievement, the company is facing some challenges, as evidenced by the fact that its valuation now stands at $1.4 billion – a 30% drop from its previous valuation of $2 billion. This
Emerging market currencies are facing a challenging time as the U.S. Federal Reserve shows no urgency to lower interest rates. The Fed’s cautious approach, combined with uncertainty surrounding key national elections, is putting pressure on these currencies. According to a recent Reuters poll of currency analysts, most emerging market currencies are expected to either weaken
In a recent announcement, buyout firm Apollo Global Management revealed plans to acquire a 49% equity interest in Intel’s manufacturing facility located in Ireland for a staggering $11 billion. This strategic investment marks a significant move in the semiconductor industry and is expected to have implications for both Intel and Apollo. With the acquisition of
The USD/JPY exchange rate experienced a pullback on Tuesday due to a risk-off market sentiment. The market’s risk-off tone generated safe-haven demand, benefiting the Yen and pressuring the USD/JPY pair. Additionally, rumors circulating that the Bank of Japan (BoJ) is considering reducing its bond purchases further supported the Japanese Yen and added downward pressure on
European shares saw a steady increase for the third consecutive session as investors eagerly awaited the predicted interest rate cut by the European Central Bank (ECB). The STOXX 600 ended the day with a 0.3% rise, with Spanish and Italian stocks leading the gains at 0.7% and 0.5% respectively. The positive sentiment in the market
The recent OPEC+ meeting held over the weekend seems to have had a limited impact on the price of crude oil. Looking at the chart data, WTI oil opened at $76.72 per barrel on Monday, just slightly higher than the Friday closing price of $76.57. This indicates that the decision made by oil producers has
As Asia ushers in the new trading month for global markets, there is a keen focus on manufacturing PMI data from the continent’s major economies. Investors are anticipating a shift in interest rates from the U.S. and other countries, which could have a significant impact on market trends. Key indicators to monitor include factory activity
In our recent assessment of the NASDAQ 100 (NDX), QQQ ETF, SP500 (SPX), SPY, Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), and Alphabet (GOOGL), we have identified a potential Elliot Wave pattern. Our analysis suggests that we are currently witnessing the development of Wave iii of (i)
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